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BOE Broadbent: Not Sure Neutral Rate Positive
Bank of England Deputy Governor Ben Broadbent has firmly rejected a request for the BOE to publish its estimate of where the neutral rate is and refuses to put a number on it. Broadbent, after delivering a speech on the decline in the neutral real rate of interest, said he was not sure it was positive now, but he refused to be drawn on numbers. Asked if the BOE would publish estimates of the neutral rate in its quarterly Inflation Report Broadbent said "certainly not". He said the neutral rate had clearly been negative after the financial crisis. Asked if it was positive now he said "In real terms I am not sure that's ... (full story)